Common use of Temporary Appropriation Clause in Contracts

Temporary Appropriation. If the Premises or any portion thereof or any Improvements are Appropriated for a limited period ending no later than five (5) years before the Expiration Date, this Lease shall not terminate and Lessee shall continue to perform and observe all of its obligations hereunder as though such Appropriation had not occurred, including, without limitation, the payment of all Monetary Obligations owing to Lessor for the period of such Appropriation as the same shall become due and payable under this Lease, except only to the extent Lessee may be prevented or substantially impeded from performing any obligations (other than Monetary Obligations) by reason of such Appropriation. In the event of such a temporary Appropriation, the respective rights of Lessor and Lessee in and to any Award shall be as set forth in Section 17.6(c). In the event that any temporary Appropriation would end later than the five (5) years before the Expiration Date, then the Appropriation shall be deemed a Total Appropriation and all of the provisions of this Section 17 that are applicable to a Total Appropriation shall apply.

Appears in 2 contracts

Sources: Ground Lease (Morgans Hotel Group Co.), Ground Lease (Morgans Hotel Group Co.)